Tag: family-owned business
What You Should Know About Starting a Family Business
Posted on October 20, 2020
As a business law attorney and a business owner, I understand that opportunistic entrepreneurs always have their eyes open for the next “big thing.” They come across a business idea, invest a great deal of money and time into building the idea into a business, then sell the new venture to a larger company for a significant profit—often rather quickly. Other business-oriented individuals are looking for something quite different. They prefer to begin with an idea, build a foundation, grow the idea, and create a sustainable company that can be […]
Important Considerations for Choosing Your Successor
Posted on October 13, 2020
Family-owned businesses represent a significant portion of the American economy and are a proud tradition for many families. According to national estimates, family-owned companies comprise 90 percent of businesses nationwide and are responsible for more than 60 percent of the jobs in this country. As a business law attorney, I have helped many business owners, and I am familiar with the challenges that family businesses face. Among the toughest is planning for the future of the business, especially across generational lines. Selecting the right family member to step in as […]
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